India: SAIF Partners-backed Aye Finance gets $6.3m debt from IFMR

India: SAIF Partners-backed Aye Finance gets $6.3m debt from IFMR

A cashier displays Indian rupee banknotes inside a bank in Jammu Photo: Reuters

As part of a series of fundraising activities, Gurgaon-based small business loan provider Aye Finance has secured Rs 40 crore ($6.3 million) as term loan from IFMR Capital.

The announcement comes in close on the heels of the financial services company raising Rs 32 crore ($4.9 million) debt funding from Geneva-based development finance institution Symbiotics Group. Prior to that, in September 2017, Aye Finance had raised close to $7 million (Rs 44 crore) in debt financing from global impact investment manager Triodos Investment Management of the Netherlands.

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